UK Equity High Alpha Fund - riverandmercantile.com

1 -6-4-202 royal dutch shell 'A'UnileverDia geoAstraZenecaReckitt BenckiserBar clay sLloy ds BankAn glo AmericanRoyal Bank of ScotlandSt a ndar d Cha rt e re dActive Weight (%)UK EquityHighAlphaFund31 October2018 FundManager:HughSergeantSource: Riverand MercantileAssetManagement LLPS ource: FactSetSource: Riverand MercantileAssetManagement LLPS ource: esTelecomsConsumer ServicesH e alt h Ca reConsumer GoodsIndus tr ial sBasic MaterialsOil & GasWeight (%) 0%0. 2%0. 4%Learning Technologies (+)Standard Chartered (+)RhythmOne (+)Na tiona l Gri d (-)Gulf Ke ystone P et role um (+)Ebiquity (+)WP P ( -)J KX Oi l & Ga s (+ )DP Eurasia (+)Serica Energy (+)Contribution+ Overweight - UnderweightWeight (%)HSBC Dutc h shell 'B' A meric an Tobac c and Mercantile AssetManagement LLP30 Coleman Street, London EC2R : 0345 603 3618 Email: 10 HoldingsSector WeightsTop 5 Overweights& UnderweightsMarket CapitalisationMonthly Top 5 Performance Contributors & DetractorsThe best and worst contributors to the portfolio s performance relative to the of portfolio and benchmark weightings across a range of indices based on company weightings within specific industrial ten largest positions by weight held in the securities in which the portfolio weight differs most from that of the Year Performance-20%-10%0%10%20%30%40%50%60%7 0%Oct 2013 Oct 2014 Oct 2015 Oct 2016 Oct 2017 Oct 2018R&M UK Equity High Alpha Fund B share classFTSE All-Share IndexSource: River and Mercantile Asset Management LLP.

2 Performance shownisof B share class. Othershare clases maybe iscalculatedusingmiddaypublishedpricesan d has beenrebasedto zero. Benchmarkperformance iscalculatedusingcloseof businessmid-marketprices. B share class (Acc) All-Share Month %3 Months %1 Year %3 Years %5 Years %Cumulative performance of the fund and benchmark over the preceding five year period. Past performance is not a reliable indicator of future : FactSetFTSE 250 Small Main ( R&M ),registeredinEnglandandWalesunderCompan yNo. OC317647, withitsregisteredofficeat30 ColemanStreet,LondonEC2R5AL,isauthorised andregulatedbytheUKFinancialConductAutho rity(FRN453087). R&Misa subsidiaryofRiverandMercantileGroupPlcwh ichisregisteredinEnglandandWalesunderCom panyNo. 04035248, withitsregisteredofficeat30 ColemanStreet,LondonEC2R 5AL. Thisdocumentisintendedforusebyindividual swhoarefamiliarwithinvestmentterminology . Pleasecontactyourfinancialadviserif youneedanexplanationofthetermsused.

3 Forfurtherdetailsofthespecificrisksandth eoverallriskprofileofthisfund; aswellastheshareclasseswithinit, Thevalueofinvestmentsandanyincomegenerat edmaygodownaswellasupandisnotguaranteed. Aninvestormaynotgetbacktheamountoriginal lyinvested. Pastperformanceisnotnecessarilya guidetofutureperformance. TheIndustryClassificationBenchmarkisa jointproductofFTSEI nternationalLimited. FTSEI nternationalLimited( FTSE ) FTSE2017. FTSE isa trademarkofLondonStockExchangeGroupcompa niesandisusedbyFTSEI nternationalLimitedunderlicence. AllrightsintheFTSE indicesand/orFTSE ratingsvestinFTSEand/oritslicensors. NeitherFTSE noritslicensorsacceptanyliabilityforanye rrorsoromissionsintheFTSE indicesand/orFTSE ratingsandunderlyingdataandnopartymayrel yonanyFTSE indices,ratingsand/orunderlyingdataconta inedinthiscommunication. NofurtherdistributionofFTSE dataispermittedwithoutFTSE sexpresswrittenconsent. FTSE doesnotpromote, to31/10/2014Yr to31/10/2015Yr to31/10/2016Yr to31/10/2017Yr to31/10/2018R&M UK Equity High Alpha B ClassFTSE All Sha reSource.

4 Riverand MercantileAssetManagement LLPUK Equity High Alpha Fund31 October 2018 Fund InformationFund ManagerHugh SergeantLauch date of Fund28 November 2006 Benchmark IndexFTSE All-ShareIA SectorUK A ll Companies Total F und size dates1 A pril & 1 October Distribution dates31 May & 30 NovemberNumber of Holdings185 CodesB Shares (SEDOL/ISIN)B3D79W3/GB00B3D79W34 ChargesInitial ChargeUp to (B)OCF ( inc luding A MC) (B)Dealing InformationTrading frequencyDailySettlementT+4 Min Investment ( B)Fund risk statisticsF und hmark ctive ObjectiveThe investment objective of the F und is to achieve c apital growth by investing in a foc used portfolio of investments whic h shall primarily c onsist of UK equities which offer the prospect of superior long term Style SkylineCategories of PotentialAnnual Performance the Style TiltsTMof the fund against the benchmark as calculated by Style : Style ResearchThe weighting of the portfolio s holdings across the four categories of Potential, related to stages of a company s life cycle, as defined within the R&M investment : River and Mercantile Asset Management LLP